The end of oil unless the industry changes

The oil industry as we currently know it must radically change if it is to survive. That’s the belief of leading oil industry thinkers as the sector faces a prolonged period of low crude prices and increasingly rigorous climate change regulations. A new research paper published by Chatham House argues “the only way forward for the [major oil] companies lies in diversifying into green energy, drastically reducing their operations or consolidating through mega-mergers,” the Guardian report. If not, they face a “nasty, brutish and short” end within 10 years.

ExxonMobil invests in carbon capture company FuelCell Energy

Real climate change regulations and legislation goes a long way to explain why ExxonMobil is doubling down on carbon capture innovation. The super major announced yesterday it was expanding its existing relationship with FuelCell Energy - one of the leaders in carbon capture technology, The New York Times reports. Carbon capture has faltered up until now partly because the process demands a huge amount of energy just to sequester the carbon for storage. What appeals to ExxonMobil about FuelCell Energy is the calibre of its fuel cells. The company estimates that “using these fuel cells with natural gas power plants could lead to a reduction of more than 90 percent in the plants’ carbon dioxide emissions, while also producing large amounts of useful hydrogen,” the NYT writes.

How hops could curb cow emissions

Still on the topic of greenhouse gas emissions, the BBC reports that scientists at Cardiff University have hit on the idea of feeding cows hops in order to reduce cattle’s major methane problem. The researchers had been studying how natural products can help combat human’s increasing bacterial resistance to antibiotics. But bacteria is also to blame for methane in cows so now they are looking at how effective a hop-based feed can be in making cows less gassy.

Old Navy's diversity advert attracts racist social media flack

You’d think we’d be over this type of racist rubbish by now but instead we read in the New York Times how a simple Old Navy advert depicting a mixed race family has attracted a torrent of abuse on Twitter. “Within hours, a backlash was apparent, with hashtags like #BoycottOldNavy and #WhiteGenocide, and messages like ‘Stop promoting race mixing, you degenerates,’” the NYT reports. Those sentiments then prompted a robust response on social from mixed race families and this statement from Old Navy: “We are a brand with a proud history of championing diversity and inclusion. At Old Navy, everyone is welcome.” Just a shame they even had to issue a statement. 

JWT looks to lead the conversation on female leadership

Finally today, adland may still be debating the alleged racist and sexist comments by JWT’s former chairman-CEO Gustavo Martinez but that hasn’t stopped the agency from releasing a new report, Female Tribes, that studies the “rise of ‘female capital’ and the value that women bring to the world as leaders, wealth creators, and artists,” Ad Age replies. That’s bold thought leadership for you. 

Have a good weekend!

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